Insider Buying: AutoZone (NYSE:AZO) Director Purchases $498,784.23 in Stock

AutoZone, Inc. (NYSE:AZO) Director Brian Hannasch acquired 147 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The shares were purchased at an average price of $3,393.09 per share, with a total value of $498,784.23. Following the completion of the transaction, the director owned 962 shares of the company’s stock, valued at $3,264,152.58. The trade was a 18.04% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

AutoZone Price Performance

NYSE:AZO opened at $3,391.42 on Monday. The company’s 50-day moving average is $3,774.97 and its two-hundred day moving average is $3,885.31. AutoZone, Inc. has a 1-year low of $3,162.00 and a 1-year high of $4,388.11. The firm has a market capitalization of $56.41 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 1.61 and a beta of 0.40.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 EPS for the quarter, missing the consensus estimate of $32.69 by ($1.65). The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.64 billion. AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $32.52 EPS. As a group, equities analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone declared that its Board of Directors has approved a stock buyback plan on Wednesday, October 8th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On AutoZone

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AZO. Flputnam Investment Management Co. lifted its position in shares of AutoZone by 3.2% in the 1st quarter. Flputnam Investment Management Co. now owns 96 shares of the company’s stock worth $366,000 after purchasing an additional 3 shares during the period. McLean Asset Management Corp raised its stake in AutoZone by 3.6% during the second quarter. McLean Asset Management Corp now owns 87 shares of the company’s stock worth $320,000 after buying an additional 3 shares during the last quarter. NBC Securities Inc. raised its stake in AutoZone by 0.9% during the second quarter. NBC Securities Inc. now owns 347 shares of the company’s stock worth $1,288,000 after buying an additional 3 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in AutoZone by 4.3% in the second quarter. Valeo Financial Advisors LLC now owns 72 shares of the company’s stock valued at $267,000 after buying an additional 3 shares during the period. Finally, Harbour Investments Inc. boosted its position in AutoZone by 27.3% during the second quarter. Harbour Investments Inc. now owns 14 shares of the company’s stock valued at $52,000 after acquiring an additional 3 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

AZO has been the topic of several research analyst reports. Evercore ISI restated an “outperform” rating and issued a $4,100.00 price objective on shares of AutoZone in a report on Wednesday, December 10th. Guggenheim decreased their price objective on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Rothschild & Co Redburn lifted their target price on shares of AutoZone from $4,300.00 to $4,700.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Erste Group Bank lowered AutoZone from a “buy” rating to a “hold” rating in a research report on Friday, October 31st. Finally, BNP Paribas Exane lowered their price target on AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating for the company in a research report on Wednesday, December 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and an average target price of $4,317.27.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.